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High Yield Fund

Daily price w/o sales charge as of 08/16/2019

$7.38

arrowUp$0.02

YTD Returns w/o sales charge as of 08/16/2019

10.97%

Overall Morningstar Ratings

High Yield Bond
as of 07/31/2019

Morningstar rated the Lord Abbett High Yield Fund class A share 4, 5 and 5 stars among 613, 530 and 343 High Yield Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 7/31/2019, respectively.

Please click here for performance current to the most recent quarter-end and month-end.

Click here to view all legal text including risk information

Summary

Summary

What is the High Yield Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in high yield corporate bonds.

A HERITAGE OF HIGH YIELD

Brings a 40+ year history of high-yield investing, focused on fundamental, bottom-up credit research.

 

AN OPPORTUNISTIC APPROACH

Provides the flexibility to adjust to the market environment and take advantage of opportunities across the credit spectrum.

STRONG TRACK RECORD

Has offered a track record of strong performance versus peers in up and down markets, demonstrating the strength of this active approach as a core high-yield holding over a full market cycle.

Yield

Dividend Yield 1 as of 08/16/2019  

w/o sales charge 5.52%
w/ sales charge 5.39%

30-Day Standardized Yield 2 as of 07/31/2019  

4.72%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Expense Ratioas of 07/31/2019

Fund Basicsas of 07/31/2019

Total Net Assets
$6.90 B
Inception Date
12/31/1998
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
667
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 12.36% 6.82% 6.60% 5.24% 8.76% 6.85%
Lipper Category Avg. High Yield Funds 10.00% 5.95% 5.88% 3.99% 7.42% -
ICE BofAML U.S. High Yield Constrained Index 10.72% 6.93% 6.83% 5.09% 8.61% 6.82%
w/ sales charge 9.81% 4.43% 5.79% 4.77% 8.50% 6.74%

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 11.56% 7.00% 7.31% 4.80% 9.39% 6.85%
Lipper Category Avg. High Yield Funds 9.47% 6.54% 6.50% 3.61% 7.96% -
ICE BofAML U.S. High Yield Constrained Index 10.15% 7.58% 7.54% 4.70% 9.20% 6.82%
w/ sales charge 9.03% 4.60% 6.47% 4.31% 9.14% 6.73%

Fund Expense Ratio :

0.90%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

RELATED CONTENT

Our Answers to Six Key Valuation Questions
July 15, 2019

Here, we attempt to sort out the current investment environment—and whether select asset classes still present attractive opportunities.

U.S. High Yield: Lessons from the Recent Volatility
February 11, 2019

Rather than trying to anticipate short-term price moves, we believe investors would be better served by focusing on the asset class’s long-term history of risk-adjusted returns.

High Yield: Active or Passive? Four Points to Consider
March 26, 2018

Here, we offer a closer look at the key attributes—and relative performance—of the two strategies.

Type Assets
High Yield Bonds
Bank Loans
Equity
Investment Grade Bonds
Convertibles
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 07/31/2019 View Portfolio

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Investment Team

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director & Portfolio Manager

11 Years of Industry Experience

Supported By 68 Investment Professionals with 15 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

Dividend Yield 1 as of 08/16/2019  

w/o sales charge 5.52%
w/ sales charge 5.39%

30-Day Standardized Yield 2 as of 07/31/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.72% 4.72%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 12.36% 6.82% 6.60% 5.24% 8.76% 6.85%
Lipper Category Avg. High Yield Funds 10.00% 5.95% 5.88% 3.99% 7.42% -
ICE BofAML U.S. High Yield Constrained Index 10.72% 6.93% 6.83% 5.09% 8.61% 6.82%
w/ sales charge 9.81% 4.43% 5.79% 4.77% 8.50% 6.74%

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 11.56% 7.00% 7.31% 4.80% 9.39% 6.85%
Lipper Category Avg. High Yield Funds 9.47% 6.54% 6.50% 3.61% 7.96% -
ICE BofAML U.S. High Yield Constrained Index 10.15% 7.58% 7.54% 4.70% 9.20% 6.82%
w/ sales charge 9.03% 4.60% 6.47% 4.31% 9.14% 6.73%

Fund Expense Ratio :

0.90%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Year Fund Returns ICE BofAML U.S. High Yield Constrained Index
2018 -5.15% -2.27%
2017 8.50% 7.48%
2016 15.84% 17.49%
2015 -2.26% -4.61%
2014 3.46% 2.51%
2013 9.69% 7.41%
2012 16.50% 15.55%
2011 3.15% 4.37%
2010 14.31% 15.07%
2009 50.51% 58.10%
2008 -23.42% -
2007 2.43% -
2006 9.94% -
2005 1.15% -
2004 10.42% -
2003 21.59% -
2002 -0.10% -
2001 5.36% -
2000 -3.01% -
1999 6.57% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 7.50% 3.77% - - 11.00%
2018 -1.07% -0.04% 2.54% -6.47% -5.15%
2017 2.82% 1.98% 2.45% 1.00% 8.50%
2016 2.01% 5.52% 5.46% 2.05% 15.84%
2015 3.05% 0.86% -4.23% -1.81% -2.26%
2014 2.92% 3.38% -1.83% -0.95% 3.46%
2013 3.97% -1.03% 2.51% 3.99% 9.69%
2012 6.63% 0.36% 5.06% 3.61% 16.50%
2011 3.82% 1.07% -7.02% 5.73% 3.15%
2010 4.93% -0.92% 6.33% 3.40% 14.31%
2009 5.95% 17.32% 14.23% 6.01% 50.51%
2008 -3.43% 1.99% -7.81% -15.68% -23.42%
2007 2.98% 0.17% 0.48% -1.17% 2.43%
2006 2.57% 0.01% 2.80% 4.27% 9.94%
2005 -1.74% 1.49% 0.87% 0.56% 1.15%
2004 1.07% -0.32% 4.34% 5.04% 10.42%
2003 4.06% 8.25% 2.40% 5.41% 21.59%
2002 1.51% -3.59% -3.78% 6.10% -0.10%
2001 5.14% -1.67% -3.99% 6.15% 5.36%
2000 -1.66% 0.99% 0.31% -2.65% -3.01%
1999 3.43% -0.11% -0.81% 3.99% 6.57%
1998 - - - - 0.80%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 07/31/2019

The chart begins on the Fund's inception date of 12/31/1998.

Based on a hypothetical Class A share investment of $10,000 on 12/31/1998 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Bonds
Bank Loans
Equity
Investment Grade Bonds
Convertibles
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 07/31/2019

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 6/30/2019

  • High yield bonds posted positive returns over the quarter, outperforming the investment grade market, as represented by the Bloomberg Barclays U.S. Aggregate Bond Index.
  • The portfolio remains overweight the basic industry sector, specifically to the building products and homebuilders segments, although we brought down the portfolio’s allocation to trade-sensitive segments such as metals, industrials, and chemicals over the quarter.
  • The portfolio remains underweight the energy sector. Although we believe that the demand picture should improve as a result of easing trade tensions, we see oversupply issues that will likely lead to downward pressure in oil prices in the back half of the year.
  • The telecom sector remains the portfolio’s largest underweight, as we believe that, in addition to secular issues faced by the wireline segment, idiosyncratic issues continue to plague major wireline companies.
  • As of quarter-end, the portfolio had modest allocations to out-of-index sectors, such as bank loans, convertibles, investment grade bonds, and equities. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential portfolio diversification benefits and avenues for liquidity.
  • We continue to believe that general economic fundamentals and strong expected earnings growth will favor the lower-rated segments of the high yield market. We expect default rates to remain subdued and believe that high yield spreads can grind tighter from current levels.

Portfolio Details as of 07/31/2019

Total Net Assets
$6.90 B
Number of Issues
667
Average Coupon
6.39%
Average Maturity
6.56 Years
Average Effective Duration
3.78 Years

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
Sprint Capital Corp. 6.875% 11/15/2028 1.8%
DISH DBS Corp. 7.750% 07/01/2026 1.0%
Ally Financial, Inc. 8.000% 11/01/2031 0.9%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.875% 05/01/2027 0.7%
Numericable Group S.A. 7.375% 05/01/2026 0.7%
Tesla Motors, Inc. 5.300% 08/15/2025 0.6%
TransDigm, Inc. 6.375% 06/15/2026 0.6%
Valeant Pharmaceuticals International, Inc. 8.500% 01/31/2027 0.5%
Calpine Corp. 5.750% 01/15/2025 0.5%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.125% 05/01/2027 0.5%
% of Total Assets 7.8%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Holding Coupon Maturity Assets
Sprint Capital Corp.6.875% 11/15/20281.9%
DISH DBS Corp.7.750% 07/01/20261.0%
Ally Financial, Inc.8.000% 11/01/20310.9%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 05/01/20270.7%
Tenet Healthcare Corp.5.125% 05/01/20250.6%
Numericable Group S.A.7.375% 05/01/20260.6%
Tesla Motors, Inc.5.300% 08/15/20250.6%
TransDigm, Inc.6.375% 06/15/20260.6%
Netflix, Inc.3.625% 05/15/20270.5%
Calpine Corp.5.750% 01/15/20250.5%
CCO Holdings LLC / CCO Holdings Capital Corp.5.125% 05/01/20270.5%
Freeport-McMoRan, Inc.3.875% 03/15/20230.5%
Intelsat Jackson Holdings SA5.500% 08/01/20230.5%
MEG Energy Corp.7.000% 03/31/20240.5%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.5%
General Electric Co.5.000% 12/31/20990.5%
Springleaf Finance Corp.6.125% 03/15/20240.5%
HCA, Inc.5.500% 06/15/20470.5%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.5%
CSC Holdings LLC5.500% 04/15/20270.5%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.5%
United Rentals, Inc.4.875% 01/15/20280.4%
Netflix, Inc.5.875% 02/15/20250.4%
Valeant Pharmaceuticals International, Inc.8.500% 01/31/20270.4%
Cheniere Corpus Christi Holdings LLC5.875% 03/31/20250.4%
CSC Holdings LLC10.875% 10/15/20250.4%
Sinclair Broadcast Group, Inc.5.125% 02/15/20270.4%
T-Mobile USA, Inc.6.500% 01/15/20260.4%
Navient Corp.6.125% 03/25/20240.4%
NRG Energy, Inc.5.750% 01/15/20280.4%
Verscend Escrow Corp9.750% 08/15/20260.4%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.4%
CF Industries, Inc.5.150% 03/15/20340.4%
DKT Finance ApS9.375% 06/17/20230.3%
Western Digital Corp.4.750% 02/15/20260.3%
Sirius XM Radio, Inc.5.000% 08/01/20270.3%
California Resources Corp.8.000% 12/15/20220.3%
Numericable Group S.A.8.125% 02/01/20270.3%
TransDigm, Inc.6.250% 03/15/20260.3%
MGM Resorts International4.625% 09/01/20260.3%
Navient Corp.6.750% 06/25/20250.3%
Centene Corp.4.750% 01/15/20250.3%
AMC Networks, Inc.4.750% 08/01/20250.3%
Intesa Sanpaolo SpA5.710% 01/15/20260.3%
Match Group, Inc.5.000% 12/15/20270.3%
ViaSat, Inc.5.625% 04/15/20270.3%
Bombardier, Inc.7.500% 03/15/20250.3%
Ziggo BV5.500% 01/15/20270.3%
Diamondback Energy, Inc.4.750% 11/01/20240.3%
RBS Global & Rexnord Corp.4.875% 12/15/20250.3%
Oasis Petroleum, Inc.6.250% 05/01/20260.3%
Molina Healthcare, Inc.4.875% 06/15/20250.3%
CSL Capital, LLC8.250% 10/15/20230.3%
Transocean Poseidon Ltd6.875% 02/01/20270.3%
Century Communities, Inc.5.875% 07/15/20250.3%
IRB Holding Corp6.750% 02/15/20260.3%
Tenet Healthcare Corp.6.250% 02/01/20270.3%
Rio Oil Finance Trust Series 2018-18.200% 04/06/20280.3%
Tenet Healthcare Corp.6.750% 06/15/20230.3%
CIT Group, Inc.6.125% 03/09/20280.3%
Yingde Gases Investment Ltd6.250% 01/19/20230.3%
Ingevity Corp.4.500% 02/01/20260.3%
Pulte Group, Inc.5.000% 01/15/20270.3%
VOC Escrow Ltd5.000% 02/15/20280.3%
Community Health Systems, Inc.8.000% 11/15/20190.3%
Jagged Peak Energy LLC5.875% 05/01/20260.3%
CSC Holdings LLC6.500% 02/01/20290.3%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.3%
MSCI, Inc.5.750% 08/15/20250.3%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.3%
Mueller Water Products, Inc.5.500% 06/15/20260.3%
Tronox Finance PLC5.750% 10/01/20250.2%
Macquarie Bank Ltd./London6.125% 03/08/21670.2%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.2%
Drive Chassis Holdco LLC10.834% 04/10/20260.2%
Ashland, Inc.6.875% 05/15/20430.2%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.2%
Radian Group, Inc.4.875% 03/15/20270.2%
Popular, Inc.6.125% 09/14/20230.2%
Churchill Downs, Inc.4.750% 01/15/20280.2%
Apergy Corp6.375% 05/01/20260.2%
Summit Materials LLC5.125% 06/01/20250.2%
Beacon Roofing Supply, Inc.4.875% 11/01/20250.2%
Mclaren Finance PLC5.000% 08/01/20220.2%
Netflix, Inc.4.875% 04/15/20280.2%
Netflix, Inc.4.625% 05/15/20290.2%
Citgo Holding, Inc.10.750% 02/15/20200.2%
Mattel, Inc.6.750% 12/31/20250.2%
Synovus Financial Corp.5.900% 02/07/20290.2%
MPT Operating Partnership L.P.5.000% 10/15/20270.2%
Pacific Gas & Electric Co.6.050% 03/01/20340.2%
CONSOL Energy Inc11.000% 11/15/20250.2%
Builders FirstSource, Inc.6.750% 06/01/20270.2%
Valeant Pharmaceuticals International, Inc.5.875% 05/15/20230.2%
Lennar Corp.4.750% 05/30/20250.2%
DaVita, Inc.5.000% 05/01/20250.2%
Centene Corp.5.375% 06/01/20260.2%
Wabtec Corp.3.450% 11/15/20260.2%
Globalfoundries Inc6.438% 05/23/20260.2%
HCA, Inc.8.360% 04/15/20240.2%
Ball Corp.4.875% 03/15/20260.2%
Sensata Technologies BV5.625% 11/01/20240.2%
Brink's Co/The4.625% 10/15/20270.2%
Cemig Geracao e Transmissao SA9.250% 12/05/20240.2%
Covanta Holding Corp.6.000% 01/01/20270.2%
Altice Financing S.A.7.500% 05/15/20260.2%
Hilton Domestic Operating Co, Inc.5.125% 05/01/20260.2%
William Lyon Homes, Inc.6.625% 07/15/20270.2%
PGT Escrow Issuer Inc6.750% 08/01/20260.2%
Micron Technology, Inc.5.327% 02/06/20290.2%
Waste Pro USA Inc5.500% 02/15/20260.2%
WeWork Cos Inc7.875% 05/01/20250.2%
CSN Resources SA7.625% 04/17/20260.2%
SM Energy Co.6.625% 01/15/20270.2%
Under Armour, Inc.3.250% 06/15/20260.2%
Post Holdings, Inc.5.500% 03/01/20250.2%
Sandy Creek Energy Associates5.000% 11/09/20200.2%
FAGE International SA/ FAGE USA Dairy Industry Inc5.625% 08/15/20260.2%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
BankUnited, Inc.4.875% 11/17/20250.2%
NGPL Pipeco LLC4.875% 08/15/20270.2%
Williams Scotsman International Inc6.875% 08/15/20230.2%
Callon Petroleum Co.6.125% 10/01/20240.2%
Tullow Oil plc7.000% 03/01/20250.2%
Hub International Ltd.7.000% 05/01/20260.2%
Buena Vista Gaming Authority13.000% 04/01/20230.2%
II-VI Inc6.062% 03/08/20260.2%
Shea Homes LP / Shea Homes Funding Corp.6.125% 04/01/20250.2%
Everi Payments Inc7.500% 12/15/20250.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.2%
Twin River Worldwide Holdings Inc6.750% 06/01/20270.2%
Promontoria Holding 264 BV6.750% 08/15/20230.2%
W&T Offshore, Inc.9.750% 11/01/20230.2%
Caesars Palace Las Vegas Trust 2017-VICI4.499% 10/15/20340.2%
Blue Cube Spinco, Inc.10.000% 10/15/20250.2%
Coty, Inc.6.500% 04/15/20260.2%
Cogent Communications Group, Inc.5.375% 03/01/20220.2%
Azul Investments LLP5.875% 10/26/20240.2%
Geo Group, Inc.6.000% 04/15/20260.2%
AHP Health Partners Inc9.750% 07/15/20260.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o5.000% 06/01/20240.2%
GCI LLC6.875% 04/15/20250.2%
Frontera Generation Hold6.662% 05/02/20250.2%
Centennial Resource Production LLC5.375% 01/15/20260.2%
Booz Allen Hamilton, Inc.5.125% 05/01/20250.2%
Nexstar Escrow Inc5.625% 07/15/20270.2%
Genworth Holdings Inc4.900% 08/15/20230.2%
Intelsat Jackson Holdings SA8.500% 10/15/20240.2%
Toll Brothers Finance Corp.4.875% 03/15/20270.2%
Rede D'or Finance Sarl4.950% 01/17/20280.2%
EW Scripps Co.5.125% 05/15/20250.2%
SPX FLOW, Inc.5.625% 08/15/20240.2%
BCPE Cycle Merger Sub II Inc10.625% 07/15/20270.2%
BEP Ulterra Holdings Inc.7.652% 11/26/20250.2%
Stoneway Capital Corp10.000% 03/01/20270.2%
William Carter Co.5.625% 03/15/20270.2%
Horizon Pharma USA Inc8.750% 11/01/20240.2%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.2%
Aegea Finance Sarl5.750% 10/10/20240.2%
Gray Television, Inc.7.000% 05/15/20270.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.2%
WPX Energy, Inc.5.250% 09/15/20240.2%
Surgery Center Holdings, Inc.10.000% 04/15/20270.2%
Enterprise Development Authority/The12.000% 07/15/20240.2%
TRI Pointe Homes LLC5.250% 06/01/20270.2%
AMC Networks, Inc.5.000% 04/01/20240.2%
Cheniere Energy Partners LP5.625% 10/01/20260.2%
Republic of Argentina5.875% 01/11/20280.2%
Belo Corp.7.250% 09/15/20270.2%
Banff Merger Sub Inc9.750% 09/01/20260.2%
Intertape Polymer Group Inc7.000% 10/15/20260.2%
HCA, Inc.5.875% 02/01/20290.2%
Hilton Domestic Operating Co, Inc.4.875% 01/15/20300.2%
Yum! Brands, Inc.5.350% 11/01/20430.2%
Gray Television, Inc.5.875% 07/15/20260.2%
HCA, Inc.7.500% 12/15/20230.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.2%
Autopistas del Sol SA/Costa Rica7.375% 12/30/20300.2%
Oceaneering International, Inc.6.000% 02/01/20280.2%
Texas Capital Bank NA/Dallas TX5.250% 01/31/20260.2%
Southwestern Energy Co.7.750% 10/01/20270.2%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.2%
William Lyon Homes, Inc.5.875% 01/31/20250.2%
Clear Channel Worldwide Holdings, Inc.9.250% 02/15/20240.2%
Credit Suisse Group AG7.250% 09/12/21680.2%
Rumo Luxembourg Sarl5.875% 01/18/20250.2%
Hadrian Merger Sub Inc8.500% 05/01/20260.2%
Williams Scotsman International Inc7.875% 12/15/20220.2%
MEG Energy Corp.6.500% 01/15/20250.2%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.2%
Marriott Ownership Resorts Inc / ILG LLC6.500% 09/15/20260.2%
Berry Global Escrow Corp4.875% 07/15/20260.2%
H&E Equipment Services, Inc.5.625% 09/01/20250.2%
Century Communities, Inc.6.750% 06/01/20270.2%
Boyd Gaming Corp.6.000% 08/15/20260.2%
Sirius XM Radio, Inc.4.625% 07/15/20240.2%
DaVita, Inc.5.125% 07/15/20240.2%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.2%
Altice Luxembourg SA10.500% 05/15/20270.2%
TopBuild Corp.5.625% 05/01/20260.2%
Electricite de France SA5.625% 01/22/21640.2%
SM Energy Co.6.750% 09/15/20260.2%
United Rentals, Inc.5.250% 01/15/20300.2%
Ingles Markets, Inc.5.750% 06/15/20230.2%
Boston Beer Co., Inc.0.000% -0.2%
Itron, Inc.5.000% 01/15/20260.2%
Community Health Systems, Inc.8.000% 03/15/20260.2%
UAL Corp.4.875% 01/15/20250.2%
j2 Cloud Services LLC / j2 Global Co-Obligor Inc6.000% 07/15/20250.2%
Pactiv Corp.7.950% 12/15/20250.2%
WellCare Health Plans, Inc.5.250% 04/01/20250.2%
Masonite International Corp.5.750% 09/15/20260.2%
Country Garden Holdings Co. Ltd.5.125% 01/17/20250.2%
Techem Verwaltungsgesellschaft 674 mbH6.000% 07/30/20260.2%
Steel Dynamics, Inc.4.125% 09/15/20250.2%
VeriSign, Inc.5.250% 04/01/20250.2%
Meredith Corp.6.875% 02/01/20260.2%
Fair Isaac Corp.5.250% 05/15/20260.2%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.2%
Hillman Group, Inc.6.375% 07/15/20220.2%
Cheniere Energy Partners LP5.250% 10/01/20250.2%
Service Corp. International4.625% 12/15/20270.2%
Wendy's International, Inc.7.000% 12/15/20250.2%
InterXion Holding NV4.750% 06/15/20250.2%
Diebold, Inc.8.500% 04/15/20240.2%
New Gold, Inc.6.250% 11/15/20220.2%
Garrett LX I Sarl / Garrett Borrowing LLC5.125% 10/15/20260.2%
Exterran Energy Solutions L.P. / EES Finance Corp.8.125% 05/01/20250.2%
Precision Drilling Corp.5.250% 11/15/20240.2%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.2%
ESH Hospitality, Inc.5.250% 05/01/20250.2%
Air Medical Group Holdings, Inc.6.375% 05/15/20230.2%
Univision Communications Inc.5.152% 03/15/20240.2%
Garda World Security Corp8.750% 05/15/20250.2%
Hecla Mining Co.6.875% 05/01/20210.2%
Longview Power8.590% 03/25/20210.1%
Eskom Holdings SOC Ltd.8.450% 08/10/20280.1%
JB Poindexter & Co., Inc.7.125% 04/15/20260.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
Coeur Mining, Inc.5.875% 06/01/20240.1%
Matterhorn Merger Sub LLC / Matterhorn Finance Sub8.500% 06/01/20260.1%
Virgin Media Secured Finance plc4.875% 01/15/20270.1%
Stonegate Pub Company Financing PLC4.875% 03/15/20220.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.1%
Huntington Bancshares, Inc.5.700% 12/31/20990.1%
Uber Technologies Inc8.000% 11/01/20260.1%
Sealed Air Corp.6.875% 07/15/20330.1%
Nine Energy Service Inc8.750% 11/01/20230.1%
Netflix, Inc.3.875% 11/15/20290.1%
West Street Merger Sub Inc6.375% 09/01/20250.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
VF Holding Corp9.652% 07/02/20260.1%
U.S. Silica Company6.438% 05/01/20250.1%
Barminco Finance Pty Ltd.6.625% 05/15/20220.1%
Equinix, Inc.2.875% 02/01/20260.1%
Guitar Center, Inc.9.500% 10/15/20210.1%
Boyne USA Inc7.250% 05/01/20250.1%
Surgery Center Holdings, Inc.6.750% 07/01/20250.1%
Tenet Healthcare Corp.7.000% 08/01/20250.1%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.1%
Rockpoint Gas Storage Canada Ltd7.000% 03/31/20230.1%
Helix Gen Funding, LLC6.152% 06/03/20240.1%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.1%
Targa Resources Partners L.P.5.375% 02/01/20270.1%
BCD Acquisition, Inc.9.625% 09/15/20230.1%
Tenneco, Inc.5.000% 07/15/20260.1%
Millicom International Cellular S.A.6.625% 10/15/20260.1%
Summit Materials LLC6.500% 03/15/20270.1%
PDC Energy, Inc.6.125% 09/15/20240.1%
SPCM S.A.4.875% 09/15/20250.1%
Extraction Oil & Gas Inc7.375% 05/15/20240.1%
CDW Corp.5.500% 12/01/20240.1%
Eoc Group Inc5.652% 02/28/20250.1%
Indigo Natural Resources LLC6.875% 02/15/20260.1%
Exterran Partners L.P. / EXLP Finance Corp.6.875% 04/01/20270.1%
Realogy Group LLC / Realogy Co-Issuer Corp9.375% 04/01/20270.1%
Oceaneering International, Inc.4.650% 11/15/20240.1%
Forming Machining Indust6.580% 10/09/20250.1%
Inter Media and Communication SpA4.875% 12/31/20220.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.1%
Acrisure LLC / Acrisure Finance Inc8.125% 02/15/20240.1%
Clearway Energy Operating LLC5.750% 10/15/20250.1%
HAT Holdings I LLC / HAT Holdings II LLC5.250% 07/15/20240.1%
Mobile Mini, Inc.5.875% 07/01/20240.1%
Compass Minerals International, Inc.4.875% 07/15/20240.1%
Bristow Group, Inc.8.750% 03/01/20230.1%
Murphy Oil USA, Inc.5.625% 05/01/20270.1%
Intelsat Luxembourg S.A.8.125% 06/01/20230.1%
Pentair Finance SA4.500% 07/01/20290.1%
Hill-Rom Holdings, Inc.5.000% 02/15/20250.1%
HCA, Inc.5.375% 02/01/20250.1%
OCI NV6.625% 04/15/20230.1%
AES Corp.4.500% 03/15/20230.1%
WPX Energy, Inc.5.750% 06/01/20260.1%
Targa Resources Partners L.P.4.250% 11/15/20230.1%
Jonah Energy LLC / Jonah Energy Finance Corp7.250% 10/15/20250.1%
MPH Acquisition Holdings LLC7.125% 06/01/20240.1%
Alliant Holdings Intermediate LLC8.250% 08/01/20230.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
Hawaiian Airlines Class B Pass Through Certificate4.950% 01/15/20220.1%
Pulte Group, Inc.6.375% 05/15/20330.1%
Parsley Energy LLC5.625% 10/15/20270.1%
Trident Merger Sub Inc6.625% 11/01/20250.1%
Cardtronics Inc / Cardtronics USA Inc5.500% 05/01/20250.1%
IAA Inc5.500% 06/15/20270.1%
Provincia de la Rioja9.750% 02/24/20250.1%
Dutch Lion BV11.250% 06/15/20200.1%
Antero Midstream Partners L.P. / Antero Midstream5.375% 09/15/20240.1%
Energizer Holdings, Inc.6.375% 07/15/20260.1%
Targa Resources Partners L.P.5.875% 04/15/20260.1%
Caesars Palace Las Vegas Trust 2017-VICI4.499% 10/15/20340.1%
Steel Dynamics, Inc.5.000% 12/15/20260.1%
Schaeffler Verwaltung Zwei GmbH4.750% 09/15/20260.1%
Transocean Pontus Ltd6.125% 08/01/20250.1%
Scotts Miracle-Gro Co.0.000% -0.1%
Fresh Market, Inc.9.750% 05/01/20230.1%
NSG Holdings LLC / NSG Holdings, Inc.7.750% 12/15/20250.1%
Merlin Entertainments PLC5.750% 06/15/20260.1%
MHP Lux SA6.950% 04/03/20260.1%
Shake Shack, Inc.0.000% -0.1%
Kernel Holding SA8.750% 01/31/20220.1%
Eldorado Resorts, Inc.6.000% 04/01/20250.1%
United PF Holdings LLC6.901% 06/10/20260.1%
AES Corp.5.125% 09/01/20270.1%
Tempo Acquisition LLC / Tempo Acquisition Finance6.750% 06/01/20250.1%
Marble II Pte Ltd.5.300% 06/20/20220.1%
Ritchie Bros Auctioneers, Inc.5.375% 01/15/20250.1%
Buenos Aires, Argentina7.500% 06/01/20270.1%
HEICO Corp.0.000% -0.1%
SPX FLOW, Inc.5.875% 08/15/20260.1%
Topgolf International, Inc.7.974% 02/09/20260.1%
Provincia de Rio Negro7.750% 12/07/20250.1%
Central American Bottling Corp.5.750% 01/31/20270.1%
Provincia de Mendoza Argentina8.375% 05/19/20240.1%
Wyndham Hotels & Resorts Inc5.375% 04/15/20260.1%
Qorvo, Inc.5.500% 07/15/20260.1%
Holly Energy Partners L.P. / Holly Energy Finance6.000% 08/01/20240.1%
Trade Me Group Ltd6.826% 05/01/20260.1%
YETI Holdings Inc0.000% -0.1%
Sprint Corp.7.625% 03/01/20260.1%
Elanco Animal Health Inc4.900% 08/28/20280.1%
Danaher Corp.0.000% 04/15/20220.1%
Darling Global Finance BV3.625% 05/15/20260.1%
WTT Investment Ltd/Hong Kong5.500% 11/21/20220.1%
Lower Cadence Holdings L6.404% 05/08/20260.1%
Plains All American Pipeline L.P.6.125% 12/31/20990.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
Provincia de Cordoba7.450% 09/01/20240.1%
Trimas Corp.4.875% 10/15/20250.1%
Wabash National Corp.5.500% 10/01/20250.1%
York Risk Services Holding Corp8.500% 10/01/20220.1%
New Enterprise Stone & Lime Co., Inc.6.250% 03/15/20260.1%
Excelitas Technologies10.096% 11/15/20250.1%
Amsted Industries, Inc.5.625% 07/01/20270.1%
SolarEdge Technologies, Inc.0.000% -0.1%
Teledyne Technologies, Inc.0.000% -0.1%
Elwood Energy LLC8.159% 07/05/20260.1%
Permian Resources LLC / AEPB Finance Corp.13.000% 11/30/20200.1%
First Solar, Inc.0.000% -0.1%
Revlon, Inc. Class A5.571% 09/07/20230.1%
Yak Access LLC12.319% 07/10/20260.1%
Magnolia Oil & Gas Corp0.000% -0.1%
Buckeye Partners L.P.3.950% 12/01/20260.1%
Gateway Casinos & Entertainment Ltd8.250% 03/01/20240.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.1%
Sonic Automotive, Inc.6.125% 03/15/20270.1%
Entercom Media Corp6.500% 05/01/20270.1%
Latam Finance Ltd.7.000% 03/01/20260.1%
Nokia Corp.4.375% 06/12/20270.1%
Fox Factory Holding Corp.0.000% -0.1%
Repligen Corp.2.125% 06/01/20210.1%
Werner FinCo LP / Werner FinCo Inc8.750% 07/15/20250.1%
Altice Luxembourg SA7.625% 02/15/20250.1%
Sotheby's4.875% 12/15/20250.1%
Dole Food Co., Inc.7.250% 06/15/20250.1%
Geopark Ltd.6.500% 09/21/20240.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
CCO Holdings LLC / CCO Holdings Capital Corp.5.000% 02/01/20280.1%
Freedom Mortgage Corp8.250% 04/15/20250.1%
Pharmaceutical Product Development LLC6.375% 08/01/20230.1%
American Woodmark Corp.4.875% 03/15/20260.1%
Ziggo Bond Co. BV5.875% 01/15/20250.1%
Stena AB7.000% 02/01/20240.1%
Silk Road Medical Inc0.000% -0.1%
ServiceMaster Co LLC/The5.125% 11/15/20240.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
Teladoc, Inc.0.000% -0.1%
Shockwave Medical Inc0.000% -0.1%
Lovesac Co/The0.000% -0.1%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.1%
Delhi International Airport Pvt Ltd6.450% 06/04/20290.1%
NVA Holdings Inc/United States6.875% 04/01/20260.1%
KGA Escrow LLC7.500% 08/15/20230.1%
Great Lakes Dredge & Dock Corp.8.000% 05/15/20220.1%
Live Nation Entertainment, Inc.5.625% 03/15/20260.1%
NESCO LLC / NESCO Finance Corp6.875% 02/15/20210.1%
Moncler SpA0.000% -0.1%
Endeavor Energy Resources L.P.5.500% 01/30/20260.1%
Catalent Pharma Solutions Inc5.000% 07/15/20270.1%
Bacardi Ltd.5.300% 05/15/20480.1%
Guardant Health Inc0.000% -0.1%
Argenx SE0.000% -0.1%
MSCI, Inc.0.000% -0.1%
Bright Horizons Family Solutions, Inc.0.000% -0.1%
Stevens Holding Co Inc6.125% 10/01/20260.1%
Advanced Micro Devices, Inc.2.125% 09/01/20260.1%
Golar LNG Partners L.P.8.934% 05/18/20210.1%
Sanderson Farms, Inc.0.000% -0.1%
Novelis Corp.5.875% 09/30/20260.1%
Theta Capital Pte Ltd.6.750% 10/31/20260.1%
Valeant Pharmaceuticals International, Inc.7.000% 03/15/20240.1%
Community Health Systems, Inc.5.125% 08/01/20210.1%
Sage Therapeutics, Inc.0.000% -0.1%
Navicure Inc9.902% 10/31/20250.1%
Aspen Technology, Inc.0.000% -0.1%
Simmons Foods, Inc.7.750% 01/15/20240.1%
LBC Tank Terminals Holding Netherlands BV6.875% 05/15/20230.1%
Dover Corp.0.000% -0.1%
Province of Santa Fe6.900% 11/01/20270.1%
Kuehg Corp10.580% 08/15/20250.1%
Louisiana-Pacific Corp.4.875% 09/15/20240.1%
Telefonica Celular del Paraguay SA5.875% 04/15/20270.1%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.1%
Hughes Satellite Systems Corp.5.250% 08/01/20260.1%
Kumba Iron Ore Ltd.0.000% -0.1%
Adient US LLC7.000% 05/15/20260.1%
Six Flags Entertainment Corp.4.875% 07/31/20240.1%
Dynagas LNG Partners L.P.6.250% 10/30/20190.1%
Veeva Systems, Inc.0.000% -0.1%
Koppers, Inc.6.000% 02/15/20250.1%
Radiate Holdco LLC / Radiate Finance Inc6.625% 02/15/20250.1%
Bahia Sul Holdings GmbH6.000% 01/15/20290.1%
Republic of Argentina6.875% 04/22/20210.1%
GCP Applied Technologies, Inc.5.500% 04/15/20260.1%
Pacific Gas & Electric Co.0.000% -0.1%
Insulet Corp.1.375% 11/15/20240.1%
Go Daddy Operating Co LLC / GD Finance Co Inc5.250% 12/01/20270.1%
MGIC Investment Corp.5.750% 08/15/20230.1%
Station Casinos LLC5.000% 10/01/20250.1%
Terraform Global Operating LLC6.125% 03/01/20260.1%
Hunt Oil Co of Peru LLC Sucursal Del Peru6.375% 06/01/20280.1%
GW Pharmaceuticals plc0.000% -0.1%
Exgen Renewables IV, LLC5.530% 11/28/20240.1%
AssuredPartners Inc7.000% 08/15/20250.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
United Rentals, Inc.4.625% 10/15/20250.1%
Lonestar II Generation H7.610% 04/20/20260.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Toll Brothers Finance Corp.4.350% 02/15/20280.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.1%
Acadia Healthcare Co., Inc.5.625% 02/15/20230.1%
Buckeye Partners L.P.6.375% 01/22/20780.1%
Fairstone Financial Inc7.875% 07/15/20240.1%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.1%
Algeco Scotsman Global Finance plc8.000% 02/15/20230.1%
Inmarsat Finance plc6.500% 10/01/20240.1%
Chemours Co.4.000% 05/15/20260.1%
BBA US Holdings Inc5.375% 05/01/20260.1%
Navistar International Corp.6.625% 11/01/20250.1%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.1%
DENTSPLY International, Inc.0.000% -0.1%
BIFM CA Buyer Inc6.272% 05/01/20260.1%
Lululemon Athletica, Inc.0.000% -0.1%
JD Power & Associates9.500% 06/09/20240.1%
Generac Holdings, Inc.0.000% -0.1%
Netflix, Inc.5.875% 11/15/20280.1%
MarketAxess Holdings, Inc.0.000% -0.1%
Pyxus International Inc9.875% 07/15/20210.1%
Match Group, Inc.0.000% -0.1%
Clearway Energy Operating LLC5.000% 09/15/20260.1%
PCI Gaming Authority5.402% 05/15/20260.1%
Teradyne, Inc.1.250% 12/15/20230.1%
Norbord, Inc.6.250% 04/15/20230.1%
Mercadolibre, Inc.2.000% 08/15/20280.1%
Deckers Outdoor Corp.0.000% -0.1%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.1%
Freshpet, Inc.0.000% -0.1%
PetSmart, Inc.5.875% 06/01/20250.1%
Shopify, Inc.0.000% -0.1%
Griffon Corp.5.250% 03/01/20220.1%
Everbridge, Inc.1.500% 11/01/20220.1%
Transocean Phoenix 2 Ltd.7.750% 10/15/20240.1%
QEP Resources, Inc.5.250% 05/01/20230.1%
Pinnacle Bidco PLC6.375% 02/15/20250.1%
Performance Food Group, Inc.5.500% 06/01/20240.1%
MRP Generation Holdings LLC9.359% 10/18/20220.1%
TGP Holdings III LLC10.830% 09/20/20250.1%
Cloud Crane LLC10.125% 08/01/20240.1%
Titan Acquisition Ltd / Titan Co-Borrower LLC7.750% 04/15/20260.1%
Zscaler Inc0.000% -0.1%
CoStar Group, Inc.0.000% -0.1%
ProAmpac PG Borrower LLC5.992% 11/20/20230.1%
Eterna Capital Pte Ltd8.000% 12/11/20220.1%
Brown-Forman Corp.0.000% -0.1%
Spotify Technology SA0.000% -0.1%
Chemours Co.5.375% 05/15/20270.1%
Levi Strauss & Co.3.375% 03/15/20270.1%
Allison Transmission, Inc.5.000% 10/01/20240.1%
Denbury Resources, Inc.9.000% 05/15/20210.1%
W/S Packaging Holdings Inc9.000% 04/15/20230.1%
Weight Watchers International, Inc.8.625% 12/01/20250.1%
Powerteam Services LLC9.580% 03/06/20260.1%
Flynn Restaurant Group5.902% 06/27/20250.1%
Airxcel, Inc.7.252% 04/28/20250.1%
Roku Inc0.000% -0.1%
Thor Industries, Inc.6.223% 02/01/20260.1%
Altran Technologies9.152% 06/26/20260.1%
Rain CII Carbon LLC7.250% 04/01/20250.1%
Cheniere Corpus Christi Holdings LLC7.000% 06/30/20240.1%
SRC Energy Inc6.250% 12/01/20250.1%
CPUK Finance Ltd4.875% 08/28/20250.1%
Cumberland Farms Inc6.750% 05/01/20250.1%
RegionalCare Hospital Partners Holdings Inc8.250% 05/01/20230.1%
Gibson Brands, Inc0.000% -0.1%
ViaSat, Inc.0.000% -0.1%
QuickSilver Inc.8.350% 04/08/20240.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
Wyndham Worldwide Corp.6.350% 10/01/20250.1%
AerCap Ireland Capital Ltd.3.650% 07/21/20270.1%
Molina Healthcare, Inc.5.375% 11/15/20220.1%
Miller Homes Group Holdings PLC5.500% 10/15/20240.1%
Britax Childcare4.500% 10/15/20200.1%
Flex Acquisition Co Inc7.875% 07/15/20260.1%
Flynn Restaurant Group9.419% 06/29/20260.1%
PG&E Corp5.029% 12/31/20200.1%
Optimas OE Solutions Holding LLC / Optimas OE Solu8.625% 06/01/20210.1%
Kenan Advantage Group, Inc.7.875% 07/31/20230.1%
Mattel, Inc.5.450% 11/01/20410.1%
Commercial Barge Line11.152% 11/12/20200.1%
Jacobs Entertainment, Inc.7.875% 02/01/20240.1%
Buckeye Partners L.P.4.125% 12/01/20270.1%
North American Lifting Holdings, Inc. (aka TNT Crane & Rigging, Inc)11.330% 11/26/20210.1%
Owens Corning4.300% 07/15/20470.1%
Mercer International, Inc.7.375% 01/15/20250.1%
CIBT Solutions, Inc.9.210% 06/01/20250.1%
Service Corp. International5.125% 06/01/20290.1%
Owens Corning4.400% 01/30/20480.1%
Chemours Co.7.000% 05/15/20250.1%
Conn's, Inc.7.250% 07/15/20220.1%
Lamb Weston Holdings, Inc.4.625% 11/01/20240.1%
Darling International, Inc.5.250% 04/15/20270.1%
Gray Television, Inc.5.125% 10/15/20240.1%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.1%
NRG Energy, Inc.5.250% 06/15/20290.1%
MSCI, Inc.5.375% 05/15/20270.1%
Southern Graphics Inc9.981% 11/22/20230.1%
Valeant Pharmaceuticals International, Inc.7.250% 05/30/20290.1%
Targa Resources Partners L.P.6.500% 07/15/20270.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
Wyndham Worldwide Corp.5.750% 04/01/20270.1%
Claire's Stores, Inc.0.000% -0.1%
Berry Global Escrow Corp5.625% 07/15/20270.1%
Medplast Holdings Inc10.071% 06/22/20260.1%
Moxie Patriot LLC8.080% 12/19/20200.1%
Sirius XM Radio, Inc.5.375% 07/15/20260.1%
Ashtead Capital, Inc.5.250% 08/01/20260.1%
Denbury Resources, Inc.6.375% 12/31/20240.1%
Novelis Corp.6.250% 08/15/20240.1%
CIT Group, Inc.5.250% 03/07/20250.1%
Energizer Holdings, Inc.7.750% 01/15/20270.1%
HCA, Inc.7.690% 06/15/20250.1%
QEP Resources, Inc.5.625% 03/01/20260.1%
Teleflex, Inc.4.625% 11/15/20270.1%
Hema Bondco II BV8.500% 01/15/20230.1%
Valeant Pharmaceuticals International, Inc.5.500% 03/01/20230.1%
CNO Financial Group, Inc.5.250% 05/30/20290.1%
AerCap Ireland Capital Ltd.4.450% 04/03/20260.1%
Lennar Corp.4.750% 11/29/20270.1%
Univision Communications, Inc.5.125% 02/15/20250.1%
UC Holdings0.000% -0.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson5.750% 03/15/20250.1%
Mercer International, Inc.5.500% 01/15/20260.1%
William Lyon Homes, Inc.7.000% 08/15/20220.1%
Panda Temple Power, LLC9.800% 02/07/20230.1%
Credit Index Swap5.000% 06/20/20240.1%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.1%
National Beverage Corp0.000% -0.1%
CF Industries, Inc.4.950% 06/01/20430.1%
DPL, Inc.7.250% 10/15/20210.1%
Teleflex, Inc.4.875% 06/01/20260.1%
CVR Partners LP / CVR Nitrogen Finance Corp9.250% 06/15/20230.0%
Denbury Resources, Inc.5.500% 05/01/20220.0%
Altice Luxembourg SA7.750% 05/15/20220.0%
CIT Group, Inc.6.000% 04/01/20360.0%
Claire's Stores, Inc.14.000% 09/05/20380.0%
Denbury Resources, Inc.7.750% 02/15/20240.0%
Panda Power Funds8.080% 12/19/20200.0%
Entertainment One Ltd4.625% 07/15/20260.0%
PG&E Corp5.029% 12/31/20200.0%
HCA, Inc.5.875% 02/15/20260.0%
Claire's Stores, Inc.0.000% 10/12/20380.0%
Medallion Midland5.652% 10/31/20240.0%
Chaparral Energy, Inc.0.000% -0.0%
Eoc Group Inc2.000% 02/26/20260.0%
United PF Holdings LLC0.000% 06/10/20260.0%
RealReal Inc/The0.000% -0.0%
Lonestar II Generation H7.610% 04/20/20260.0%
FGI Operating Company, LLC0.000% 05/15/20220.0%
Credit Default Swap1.000% 06/20/20200.0%
Templar Energy LLC0.000% -0.0%
Remington Outdoor Co. Inc.0.000% -0.0%
Tonon Luxembourg S.A.6.500% 10/31/20240.0%
Morgan Stanley Capital I Trust5.510% 07/15/20560.0%
Morgan Stanley Capital I Trust5.510% 07/15/20560.0%
Penson Technologies LLC0.000% -0.0%
Afren plc6.625% 12/09/20200.0%
Afren plc11.500% 02/01/20160.0%
Afren plc10.250% 04/08/20190.0%
FX EUR/USD 09/190.000% 09/09/20190.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
US 10YR ULTRA FUT SEP190.000% 09/30/20190.0%
US ULTRA BOND CBT SEP190.000% 09/30/20190.0%
US 5YR NOTE (CBT) SEP190.000% 10/03/20190.0%
US 10YR NOTE (CBT)SEP190.000% 09/30/20190.0%
Mirabela Nickel Ltd.1.000% 09/16/20440.0%
Washington Mutual, Inc.6.875% 06/15/20110.0%
General Motors Co.7.200% 01/15/20490.0%
FX EUR/USD 08/190.000% 08/14/20190.0%
FX EUR/USD 08/190.000% 08/14/20190.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
Fairway Group Holdings Corp.0.000% 11/24/20230.0%
Fairway Group Holdings Corp.0.000% 02/24/20240.0%
Fairway Group Acquisition Company0.000% -0.0%
EURO-BOBL FUT Sep190.000% 09/10/20190.0%
Templar Energy LLC0.000% -0.0%
EURO-BUND FUTURE Sep190.000% 09/10/20190.0%
NEXSTAR BROADCASTING GROUP0.000% 11/30/20190.0%
Remington Outdoor Co. Inc.0.000% -0.0%
US LONG BOND(CBT) SEP190.000% 09/30/20190.0%
FX EUR/USD 08/190.000% 08/14/20190.0%
US 2YR NOTE (CBT) SEP190.000% 10/03/20190.0%
FX USD/GBP 09/190.000% 09/05/20190.0%
FX USD/GBP 09/190.000% 09/05/20190.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
FX USD/EUR 08/190.000% 08/14/20190.0%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Sector Allocationas of 07/31/2019

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Utility arrowUp0.2%
Insurance arrowDown0.1%
Leisure arrowDown0.1%
Capital Goods arrowUp0.5%
Healthcare arrowDown1.0%
Retail arrowDown0.8%
Energy arrowDown0.2%
Technology & Electronics arrowUp0.4%
Real Estate arrowDown0.2%
Financial Services arrowUp0.4%
Telecommunications arrowUp1.3%
Other arrowUp0.2%
Consumer Goods arrowDown0.1%
Basic Industry 0.0%
Services 0.0%
Transportation arrowUp0.4%
Media arrowDown0.8%
Banking 0.0%
Automotive 0.0%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 08/16/2019
$0.243
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 07/31/2019 $0.03392 $7.49
Daily Daily 06/30/2019 $0.03502 $7.47
Daily Daily 05/31/2019 $0.03448 $7.29
Daily Daily 04/30/2019 $0.03439 $7.40
Daily Daily 03/31/2019 $0.03453 $7.30
Daily Daily 02/28/2019 $0.03510 $7.27
Daily Daily 01/31/2019 $0.03579 $7.18

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 08/31/2019
Daily Daily 09/30/2019
Daily Daily 10/31/2019
Daily Daily 11/30/2019
Daily Daily 12/31/2019

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/18/2014 12/19/2014 $0.0899 $0.0792 $0.1691 $7.44
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/17/2019 12/18/2019

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 08/16/2019

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $7.55
$100,000 to $249,999 1.75% 1.50% $7.51
$250,000 to $499,999 1.25% 1.00% $7.47
$500,000 to $999,999 0.00% 1.00% $7.38
$1,000,000 to $5,000,000 0.00% 1.00% $7.38

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers Click here.

Expense Ratioas of 07/31/2019

Fund Documents

Fund Documents

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Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

The ICE BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization-weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have a below investment grade rating (based on an average of Moody’s, S&P and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $100 million. The index caps individual issuer at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. The face values of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro-rata basis.

Source: ICE Data Indices, LLC. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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